All Forum Posts by: Zane O.

@Matt Vogt Outside of the yard, there's nothing particularly awkward or unusual about the home or it's finishes.  The home is priced well under the appraisal that was done when we purchased it (before improvements), and even priced under the taxable value.  Yes, in Amarillo the buyer pool for homes over $400k starts shrinking fairly quickly, and I'm sure that contributes to the issue.

The low end of this neighborhood starts in the lower $120s/ft starting with garden homes around 2,000 ft and ranges up to $180s/ft for new construction over 5,000 ft.

@Account Closed - we own the home, so I can't bring myself to fire me :)

Yes, we've done follow ups with agents and visitors.  The only negative response has been the size of the backyard.  We've had no other consistent complaints (even about the price).

I watch the MLS and comps extremely closely, and we're priced well below similar homes. The price drops have been to keep the price in line with feedback in hopes to attract someone who can live with the short-coming of the yard.

We do have reverse prospecting, and the agents found have seen/shown the house. We also frequently communicate through our MLS email system to solicit interest and input on the house.

We are going to continue lowering the price to try to intice a buyer.

Thanks for all the feedback!

We have a home that has been on the market for over a year now, and we've yet to get an offer, even after multiple marketing strategies have been tried.

Home info:

- High-end neighborhood

- 4,046 sq. ft. 5+ bed, 4 bath, 2 living, 3 car garage, 

- 2006 construction

- never had a picture hung on the wall 

- no issues with the home other than a small backyard  

Original asking was $560k ($138/ft), and we're down to $499k ($123/ft).  The comps have run in the low $130s/ft the whole time.

Marketing tried:

- Professional photography

- Video - walk-through and drone

- Golf cart included with sale (lots of golf carts used in the neighborhood)

- 13 Open Houses

- Online marketing - MLS, Realtor.com, Zillow, Facebook, etc.

- Print marketing - local news paper major ad, flyers, etc.

- 5% buyer's agent commission offered

We've had over 30 private showing and hundreds of vistors through the Open Houses.

What thoughts/ideas do you have?

@Brad Stuteville good to see you here.

I'll talk with you tomorrow evening at the meeting, but I'm glad to help.

I'm planning to attend.

well, in our area, for anything over 8-9%, you're going to do some significant value add or take some pretty good tenant risk (work), so it will ultimately depend on the area/region you focus.

@Anthony S. Welcome!

If I can be any help in Amarillo, let me know!

@Debra Dunne - yes, Wade Mitchell and Shawn Moore.  Michael Dodson is also a good wholesale contact.

It's funny you mention Lenwood - I took a couple of my investor/contractor clients over there and did a serious walk-through.  That should be a great one for rental.

@Leo Kingston  Were you able to get the help you need?